I seriously doubt that banks will let people instant convert their BTCs into USDs during transaction, that means if you never spend at all that you'd never have to pay taxes. The government wants its share.

Don't you think your mastercard service should be more like a prepaid green dot where there are no names, addresses, telephone numbers attached to the card?

I mean what's the point of an anonymous currency if the card we use in real life isn't anonymous?

Our cards are not anonymous. There is no name on the card, not on the magnetic strip, but as licensed issuers we are required to collect KYC from our customers. There is no "legal" anonymous reloadable debit card. Neither MasterCard nor Visa allows it.

Greendot is not anonymous. Reloadable Greendot cards require Tax ID number (SSN), in addition to name and address. In order to get a reloadable card, Greendot must verify a person's identity. Unless they can verify you, they will not register a reloadable card. In some cases, they require photocopies of state issued IDs.

Unreloadable Greendot cards can be used as gift cards but they are not the same as reloadable cards.

I know of a few anonymous debit cards--no ID required. They have minor restrictions, such as a maximum cap on the card. They are reloadable.

None of them are U.S. based, since the Land of the Free is anything but free.

Can you point me to these cards? You are correct about the land of the free comment; however, MasterCard/Visa are a US company and impose the same requirements for any card they issue in the world. To my knowledge, if there are reloadable anonymous debit cards, they are being offered against MC/VISA terms and conditions and the issuer is at risk to loose their licensing.

We are not based in the US and still need to follow Visa/MasterCard guidelines. They are bound to AML and KYC compliance policies because they are a US company, no matter where the cards are issued. The bank issuing the previous cards we use to offer (gKards) lost their licensure overnight and all cards became useless because Visa/MC did an audit and found lax KYC requirements from the bank.

Greendot is not anonymous. Reloadable Greendot cards require Tax ID number (SSN), in addition to name and address. In order to get a reloadable card, Greendot must verify a person's identity. Unless they can verify you, they will not register a reloadable card. In some cases, they require photocopies of state issued IDs.

Unreloadable Greendot cards can be used as gift cards but they are not the same as reloadable cards.

That is correct. There is nothing anonymous about GreenDot unless you pass codes p2p, but at some point somebody will have to cash out. If you want to reload a GreenDot card, you need to present KYC.

A card of this type is possible, but it will take a multi-dicipinary approach, including a fair amount of capital, a BIN, and the ability to hedge cryptocurrency risk so that cardholder prices are comparable to people doing it themselves over a series of disconnected/manual transactions.

So far, the ideas I've see are good, but reflect a fundamental misunderstanding of the FATF, KYC and the US/global payment systems.

I know of a few anonymous debit cards--no ID required. They have minor restrictions, such as a maximum cap on the card. They are reloadable.

None of them are U.S. based, since the Land of the Free is anything but free.

Can you point me to these cards? You are correct about the land of the free comment; however, MasterCard/Visa are a US company and impose the same requirements for any card they issue in the world. To my knowledge, if there are reloadable anonymous debit cards, they are being offered against MC/VISA terms and conditions and the issuer is at risk to loose their licensing.

in the UK there were anonymous single use Mastercards 6-10ukp purchase, 10 UKP min - 200-250UKP max. 50p charge per transaction. IDT prime for example.

These could be upgraded to reloadable, but then you needed to KYC, max 1650UKP.

At least that was the case to Dec 2010 when most switched to having some KYC requirement (minimum was a valid address, no idea if they checked against electoral roll), and required phone activation.

I know of a few anonymous debit cards--no ID required. They have minor restrictions, such as a maximum cap on the card. They are reloadable.

None of them are U.S. based, since the Land of the Free is anything but free.

Can you point me to these cards? You are correct about the land of the free comment; however, MasterCard/Visa are a US company and impose the same requirements for any card they issue in the world. To my knowledge, if there are reloadable anonymous debit cards, they are being offered against MC/VISA terms and conditions and the issuer is at risk to loose their licensing.

in the UK there were anonymous single use Mastercards 6-10ukp purchase, 10 UKP min - 200-250UKP max. 50p charge per transaction. IDT prime for example.

These could be upgraded to reloadable, but then you needed to KYC, max 1650UKP.

At least that was the case to Dec 2010 when most switched to having some KYC requirement (minimum was a valid address, no idea if they checked against electoral roll), and required phone activation.

I don't know of any currently available to purchase that are truly anonymous.

marked

Yep, KYC requirements have changed significantly in the plastic industry in the last 2 years. Of course in the name of "money laundering" and "terrorist financing" when in reality is all bullshit. Governments want to make sure nobody evades taxes. It is that simple.